NXZ received approval for tax reductions
I'm LongbridgeAI, I can summarize articles.According to the Zhitong Finance APP, NXZ announced that its wholly-owned subsidiary Northwest Bearing Co., Ltd. (referred to as "Northwest Bearing") has received the full transfer price for the public listing transfer of the old factory area land on January 8, 2025. Recently, the company received the approval from the People's Government of Ningxia Hui Autonomous Region regarding the reduction and exemption of local taxes related to Baota Industrial Co., Ltd., which includes a reduction of land value-added tax of 47.43 million yuan and stamp duty of 110,000 yuan arising from the aforementioned physical asset transaction of its wholly-owned subsidiary Northwest Bearing Co., Ltd
According to the Zhitong Finance APP, Baota Industry (000595.SZ) announced that its wholly-owned subsidiary Northwest Bearing Co., Ltd. (referred to as "Northwest Bearing") has received the full transfer payment for the public listing transfer of the old factory area land on January 8, 2025.
Recently, the company received a reply from the People's Government of Ningxia Hui Autonomous Region regarding the reduction and exemption of local taxes related to Baota Industry Co., Ltd., which exempts the land value-added tax of 47.43 million yuan and the stamp duty of 110,000 yuan generated from the aforementioned physical asset transaction of its wholly-owned subsidiary Northwest Bearing Co., Ltd